Spanish fashion company Inditex, which owns brands like Zara and Massimo Dutti, performed well in its past quarter: turnover grew 12 % in the quarter that ended in April.
Strong start for second quarter
Inditex saw its quarterly turnover reach 4.9 billion euro thanks to the turnover increase, which would have been + 17 % if exchange rates had remained stable. Operating income grew 6 % to 705 million euro, while net profit also grew 6 % to 554 million euro.
The company’s second quarter also began strongly, as the Spanish company mentioned its like-for-like turnover grew 15 % in that timeframe.
In the past quarter, Inditex increased its store network with another 72 units to 7,085 across 90 countries, after its first store openings in Nicaragua and Aruba. It is also expanding its online reach, with additional web shops in Bulgaria, Croatia, Czechia, Finland and Latvia.
